Bulgaria: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Bulgaria

The Bulgarian orthopedic prosthetics market fell dramatically to $X in 2022, which is down by -99.9% against the previous year. Over the period under review, consumption faced a precipitous setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Orthopedic Prosthetics Production in Bulgaria

In value terms, orthopedic prosthetics production soared to $X in 2022 estimated in export price. Over the period under review, production saw a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 129%. Orthopedic prosthetics production peaked in 2022 and is expected to retain growth in the near future.

Orthopedic Prosthetics Exports

Exports from Bulgaria

For the third year in a row, Bulgaria recorded growth in overseas shipments of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), which increased by 249% to X units in 2022. Over the period under review, exports recorded a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 1,221% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, orthopedic prosthetics exports skyrocketed to $X in 2022. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 536%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for orthopedic prosthetics exports from Bulgaria, accounting for a 94% share of total exports. It was followed by Uzbekistan (X units), with a 1.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +176.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (0.0% per year) and Austria (+1.8% per year).

In value terms, Germany ($X) remains the key foreign market for artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exports from Bulgaria, comprising 69% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +143.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (0.0% per year) and Austria (+80.8% per year).

Export Prices by Country

The average orthopedic prosthetics export price stood at $X per unit in 2022, reducing by -38.6% against the previous year. Over the period under review, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2013 an increase of 434%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+77.7%).

Orthopedic Prosthetics Imports

Imports into Bulgaria

In 2022, overseas purchases of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 32% to X units, rising for the second consecutive year after three years of decline. In general, imports posted significant growth. The growth pace was the most rapid in 2021 with an increase of 261%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, orthopedic prosthetics imports soared to $X in 2022. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 126%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of orthopedic prosthetics to Bulgaria, with a 74% share of total imports. Moreover, orthopedic prosthetics imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X units), more than tenfold. The third position in this ranking was held by Austria (X units), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +31.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+28.5% per year) and Austria (+96.2% per year).

In value terms, Germany ($X) constituted the largest supplier of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) to Bulgaria, comprising 37% of total imports. The second position in the ranking was held by Austria ($X), with a 17% share of total imports. It was followed by the Netherlands, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +30.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+107.6% per year) and the Netherlands (+13.9% per year).

Import Prices by Country

The average orthopedic prosthetics import price stood at $X per unit in 2022, growing by 2% against the previous year. Overall, the import price, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2013 when the average import price increased by 35%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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